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Shops at Perry Crossing back under control of previous owner FREE NEWSLETTERS April 23, 2021 A Plainfield shopping center that went into receivership last year after owners fell behind on a loan agreement is back under control of its Memphis, Tennessee-based ownership group. Poag Shopping Centers earlier this month squared away its legal dispute over The Shops at Perry Crossing, allowing the firm to take back the keys to the property. Poag and former partner Blue Vista Capital Management LLC bought the shopping center (then known as Metropolis) in 2014 through a $35 million loan from Pacific Western Bank. Poag Shopping Centers CEO Josh Poag said Monday the firm regained control of the property in mid-April after securing a new loan from a separate financial institution that allowed the Pacific Western loan to be paid off.

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